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Toyota has time and again been among the world’s top automotive manufacturers. The company has managed to overcome many of its obstacles to become the top manufacturer in the industry. This paper therefore presents a comprehensive analysis of Toyota Motor Corporation in terms of its value statement and code of conduct. Additionally, the paper discusses two of legal/ethical situations it has involved in other than looking at ways to handle these situations. The influence of its culture and values on decision making is also looked at. Towards the end, I examine the concept of concept of Corporate Social Responsibility and how Toyota practices it.
Toyota Motor Corporation
Toyota Motor Corporation is currently the world’s leading automotive manufacturer which is headquartered in Japan. It rose to number one in 2008 after overtaking General Motors (GM) in 2008 and its products ranges from latest automotive designs to manufacturing a diverse line of products including sports and luxury cars, subcompacts, minivans, SUVs, trucks, and buses. The company produces vehicles either with hybrid, like in the case of Pirus or combustion engines (Cho, 2008). Toyota Motor Corporation has a number of subsidiaries like Hino Motors and Daihatsu Motors which also manufacture vehicles. Additionally the company manufactures automotive parts both for a sale and its own uses and some of its most popular models are: Land cruiser, Corolla, and Camry. For proper running and effective management of the company, Toyota has well established values and code of conducts.
The Toyota Motor Corporation has ensured over time that its customers get the best of their products. For this reason, all members of Toyota organization are anticipated to know and apply a set of common principles within the Corporation otherwise referred to as The Toyota way, from which Toyota has made itself synonymous with innovation and quality. Additionally the company has its mission statement that together forms its values (Cho, 2008).
The Toyota Way is found on the guiding principles at the company and is made up of five core values expressing the values and beliefs shared by the Toyota Group. The five core values are employed by all Toyota employees on daily work and to guide how they relate with others. They are as follows:
Toyota maintains a long-term vision and endeavors to handle all the challenges with creativity and courage required to accomplish that vision.
The term Kaizen implies making every effort for unremitting improvement. Toyota appreciates that no process can ever be termed as perfect hence believes that there is always room for improvement of their products and services (Cho, 2008).
This entails going to the source to obtain then facts for making correct decisions, develop consensus and attain goals. This is the case for the company as it is engaged in unending research to understand the changing needs and demands in the automotive industry.
The company respects others and attempts to its last bit to understand others. Toyota also accepts responsibility and is determined in doing its best to develop mutual trust. (Cho, 2010)
Toyota encourages professional and personal development, shares opportunities growth and capitalize on team and group performance.
Toyota’s code of ethics and code of conduct is a set of rules that is used by the company to organize all employees and their basic attitudes required for to work within the company’s guiding principles. It is not an inventory of don’ts but a positive clarification of rules to be put into consideration and steps to be taken. These guidelines also show parties that department employees can consult with incase of any difficulty in decision making to ensure that they are sure of the aptness of the conduct. Individual divisions within the corporation also have conduct guidelines which identify details of particular rules and actions, putting into consideration the exceptional characteristics of each person (Chen, 2010).